RaviRavi Staff asked 7 months ago

491. Identify as to which of the following option will
be appropriate to the respective statement taking
into consideration the concept of pervasiveness.
Not disclosing the facts which can have material
impact on user understanding of financial
statement.
a) Not confined to specific element.
b) If confined represent a substantive portion in
financial statement.
c) Disclosure which are fundamental to user
understanding.
d) None of the above.
Answer:- c) Disclosure which are fundamental to user understanding.

1 Answers
RaviRavi Staff answered 7 months ago

MCQ revised for better understanding:-
Which from the following is a formal Statement including opinion made after enquiry of matter specified ?
a)Audit Report
b)Certificate
c)Review Report
d)None of the above.
Answer:- a)Audit Report

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